Lukoil-Petrotel: the Romanian state will not take over the refinery and will oversee the sale

The Romanian state has decided not to take over the Lukoil-Petrotel refinery due to the lack of an immediate cash flow of approximately 200 million euros needed for its operationalization. Instead, the authorities will split the process into two stages: the first measure aims to put the refinery up for sale, with a normative act expected to be adopted by November 21, considering its strategic importance, which ensures 20% of the national fuel needs. The second stage will include the sale of the network of approximately 300 gas stations, with a second normative act planned for December 13.

The decision comes against the backdrop of sanctions imposed by the U.S. Treasury on Lukoil, which obliges the company to sell its international assets by the end of November. Romanian authorities have emphasized the need for state intervention to maintain market stability and the continuity of fuel supply. Former President Traian Băsescu warned about the risks of taking over the refinery, highlighting the high operating costs.